“Atom is pleased to confirm that we have appointed Canaccord Genuity and Bond Dickinson as our investment and legal advisors respectively. They will be assisting us in completing our principal capital raise,” the bank said in a statement. “We continue to work closely with the regulators and to invest in the development of Atom as a new and innovative alternative to the traditional high street banks.

“We are making no presumptions about timing of authorisation or the participation of individual investors.”

The fundraising round brings the total capital raised to £100m, according to Sky News, which first reported the funding.